The growing municipality area of Houston positions as the fourth greatest metro run in the United States, coming in right behind New York, Los Angeles, and Chicago. More that fifty percent of Fortune 500 energy companies are headquartered here, giving the city an incomparable advantage in the overall energy industry. Marcus Hiles has been certain of this development of Houston. A great deal of Houston’s occupations and progress has been driven by the energy business. The advancement of the Panama Canal also offers impressive points of interest to the city, where industrial giants attempt to beat West Coast in attaining foreign goods. The Port of Houston is the second busiest port in the United States, rapidly contending with the Port of Los Angeles for trade and jobs. Likewise, the Texas Medical Center, sitting just three miles south of downtown, has more than 100,000 representatives and includes facilities such as hospitals, research organizations, pharmacy schools, nursing programs and a dental school.
Trends in the property market are most noticeable during periods of population increases and economic prosperity at the state and municipal level, explains Marcus Hiles. Luxury rental markets grew regionally in 2015, with recent data from the Department of Labor concluding that Dallas experienced labor force expansion above 3.75 million, maintaining one of the lowest unemployment rates in the U.S. — finishing 2016 at 3.5%. Texas witnessed more than 69,000 new apartments built in 2016, largely within the big four cities.
The United States housing market experienced a small but noticeable increase in mortgage rates in 2016, with the biggest spike happening as the year came to a close. Prominent Texas property developer Marcus Hiles points out that the Dallas-Fort Worth area saw home prices rise 12% over the past year alone — the third highest in the United States. Some buyers are unaffected by these increased costs, but many have been priced out of a housing market that was already struggling to accommodate massive growth even before this shift. Hiles, Founder of Western Rim Property Services, believes the upmarket rental communities built by his company provide Texas residents with a solution, offering luxurious apartments and townhomes at a price they can afford — unaffected by variances in housing markets.
If the lone star state were a country, it might just have the world’s twelfth largest gross domestic product (GDP). Real estate expert and Texas entrepreneur, Marcus Hiles believes the state’s achievement is because of its pledge to reduce spending and government regulation. The successful implementation encourages other states to follow Texas’ lead. Over the past ten years, Texas has created an atmosphere for commerce and people to flourish. Mr. Hiles notes. “There is no corporate or personal income tax in Texas, and during each session, the Legislature curbs spending growth.” Read More: http://www.marketwatch.com/story/marcus-hiles—-encourages-everyone-to-follow-texas-pro-growth-policies-2016-06-24